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Identify the flaw in Amy logic

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Problem - Amee moved to the San Francisco Bay Area to work for a technology start-up 25 years ago. The start-up eventually went public, and Amee is now one of the company's most senior and successful employees.

Amee has owned a house in Nob Hill for the past 20 years. Although she is grateful that the house has increased in value significantly while she has owned it, her property tax bill also has increased substantially. Given the $10,000 maximum regular tax deduction for state and local taxes imposed by the TCJA and the fact her property taxes create an AMT adjustment, Amee has decided that she would save a significant amount in AMT if she moved to a state with lower property taxes.

Identify the flaw in Amy's logic with respect to the interaction of the $10,000 state and local tax deduction for regular tax purposes and the related AMT adjustment.

Reference no: EM132669445

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